Retirement concerns and planning of cooperative members: a study in the Dutch healthcare sector
- 38 Downloads
Retirement planning is a key component in achieving goals and fulfilling expectations. Although several socioeconomic and psychological factors associated with retirement planning have been reported in the literature, little is known about the influence that specific retirement-related issues have on retirement planning. We examine the influence of five concerns—the individual’s financial situation, living situation, care provision, health condition, and loneliness—on retirement planning. In addition, we investigate the influence of these concerns on individuals’ perceptions of their ideal post-retirement situations in terms of financial standards. Our dataset is derived from a 2010 web-based survey of the care and well-being sector in the Netherlands.
KeywordsHealthcare Cooperatives Retirement planning Uncertainty
JEL ClassificationD12 D60 G23 I31 J26
The authors thank the editor, Charles Steindel, and two anonymous referees for heir valuable comments that helped to improve this paper. The authors are also grateful to Edward Groenland and Susan Bruning van der Werf for their valuable assistance.
- Attanasio, O.P. 1999. Consumption (Chapter 11). In Handbook of macroeconomics, ed. J.B. Taylor and M. Woodford. Amsterdam: Elsevier.Google Scholar
- Browning, M., and A. Lusardi. 1996. Household saving: Micro theories and micro facts. Journal of Economic Literature 34: 1797–1855.Google Scholar
- Høj, J. 2011. Making the Dutch pension system less vulnerable to financial crises. OECD Economics Department Working Paper No. 832, OECD Publishing. http://ideas.repec.org/p/oec/ecoaaa/832-en.html. Accessed 1 Feb 2013.
- Knoll, M.A.Z. 2010. Role of behavioral economics and behavioral decision making in Americans’ retirement savings decisions. Social Security Bulletin 70: 1.Google Scholar
- Lusardi, A., and O.S. Mitchell. 2007c. Financial literacy and retirement planning: New evidence from the rand American life panel, No. 2007/33, Center for Financial Studies (CFS). https://ideas.repec.org/p/zbw/cfswop/200733.html. Accessed 8 July 2018.
- Taylor, M.A., and M. Schaffer. 2012. Planning and adaptation to retirement: The post-retirement enviroment, change management resources, and need-oriented factors as moderators. In The Oxford handbook of retirement, ed. M. Wang. New York, NY: Oxford University Press.Google Scholar
- Thaler, R.H., and C.R. Sunstein. 2008. Nudge: Improving decisions about health, wealth, and happiness, 1st ed. Yale: Yale University Press.Google Scholar